Private cryptocurrencies can cause next financial crisis if allowed to grow, warns RBI Governor

New Delhi, 21/12: Pressing for the prohibition of instruments like Bitcoin, Reserve Bank Governor Shaktikanta Das on Wednesday warned that the next financial crisis can be triggered by private cryptocurrencies, if such speculative instruments are allowed to grow.

 

 

Das has been staunchly opposed to such instruments and the RBI has gone till the Supreme Court with its contention.

 

“Cryptocurrencies… have huge inherent risks from macroeconomic and financial stability (perspective) and we have been pointing it out,” he said, speaking at an event organised by the Business Standard here.